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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jan 20, 2000
Page
6
The Nasdaq composite rose to a record 4151.29 as Microsoft slid after a second quarter report met estimates but failed to wow analysts. The Dow fell 71.36 while the S and P edged up. Qualcomm and Yahoo! climbed with technology stocks regaining momentum.
CableComm will be Charter Communications starting February 1. Brenda McNutt of Princeton says the move will bring state of the art technology and improved services while customers still see the same local staff at 819 Mercer St. Charter plans over time to upgrade infrastructure and expand offerings across its Virginias and Pennsylvania footprint. Charter, a Wired World company, aims to serve about 6.2 million customers after all deals close and has been highlighted as a fast growing firm by Inc. magazine.
The Federal Reserve reports robust consumer spending and a rebound in manufacturing, with December and January growth described as strong. Retailers show bright holiday sales in electronics toys and jewelry, while labor markets stay tight and wage increases appear limited. Prices are mostly steady with some districts noting small rises.
America Online reported 1999 fourth quarter earnings of 224 million dollars, 9 cents a share, more than double year ago’s 86 million dollars. Revenues rose to 1.6 billion, with advertising and commerce up 79 percent to 437 million.
Union leaders hailed the largest rise in over two decades with 16.5 million members in 1999, up 265000 from 1998, though the overall unionization rate stayed at 13.9 percent. Private sector gains 112493 members while Gore backing shapes 2000 political activity.
Microsoft argues a federal judge erred in calling it a monopoly and says its Windows software does not control price or availability. The company also reports second quarter profits up 22 percent to 2.44 billion on 6.11 billion revenue, while noting slower Windows sales ahead of Windows 2000.
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